The story
Founded by Bang Si-hyuk on Feb 4, 2005, in Seoul.1
2005–2021: Big Hit Entertainment Co., Ltd.
Big Hit Entertainment was founded on February 1, 2005, and signed the vocal trio 8Eight in 2007. In 2010, the company signed a contract with JYP Entertainment to jointly manage the boy group 2AM. That year, Bang Si-hyuk signed RM as the first member of BTS and launched nationwide auditions to recruit other members for the group. BTS made their debut under Big Hit on June 13, 2013.
In 2012, the company signed Lim Jeong-hee, and formed the girl group Glam as a collaboration with Source Music. The group was active until 2014, when it was disbanded due to legal actions against one of its members Kim Da-hee. Kim was sentenced to prison after being found guilty of blackmailing actor Lee Byung-hun.
Following the end of the joint contract between Big Hit and JYP in April 2014, three members of 2AM returned to JYP. Lee Chang-min remained with Big Hit to continue with his solo career and as part of the duo Homme. 8Eight disbanded later that year, after Baek Chan and Joo Hee's contracts with Big Hit ended.
In May 2015, Lim parted ways with the agency, following the expiration of her three-year contract, and Signal Entertainment Group, a KOSDAQ-listed company specializing in artist management and television production, acquired stakes in Big Hit through a ₩6 billion (US$5.24 million) convertible bond. In early 2016, Big Hit ended their stake relationship with Signal and made a full settlement of the bonds.
In February 2018, Homme disbanded after member Changmin's contract ended. He left the company to start his own agency, while Lee Hyun continued on as a solo artist. In August, Big Hit and CJ ENM released information stating plans to create a joint entertainment agency, with ownership split 52% to the latter and 48% to the former. Filed under the name Belift Lab, the agency debuted its first boy group Enhypen in November 2020. In October, BTS renewed and extended their contract with the agency for seven more years. Big Hit was voted Best Investment Company of the Year at the 2018 Korea VC Awards in December.
Big Hit debuted its second male group, Tomorrow X Together (TXT), in March 2019. Also that month, former CBO Lenzo Yoon was appointed co-CEO alongside Bang. Yoon would focus on the business components of the company, while Bang's focus would be on creative production. In July 2019, the company acquired Source Music, and in August, the video game firm Superb. Thanks to the Weverse and Weverse Shop apps developed by its subsidiary beNX, Big Hit was named the fourth most innovative company of 2020 worldwide by Fast Company.
In May 2020, Big Hit became the majority shareholder of Pledis Entertainment. The label would retain its independence; however, its artists would now receive greater financial support and global promotions. The Fair Trade Commission (KFTC) approved the acquisition in October. Big Hit acquired KOZ Entertainment, a record label founded by rapper Zico, the following month.
In January 2021, news media reported that Big Hit and beNX had invested a combined ₩70 billion (US$61.19 million) in YG Plus, acquiring a 17.9% stake in the company in a merchandising and distribution deal that would see YG Plus' artists join the Weverse social media and shop platforms. Naver Corporation later invested ₩354.8 billion (US$310.15 million) in beNX, acquiring 49% of the subsidiary. In return, it transferred its V Live video streaming service to the latter for the development of a new integrated fan community platform. BeNX was eventually renamed Weverse Company. The merger was approved by the KFTC in May.
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On February 17, Big Hit and Universal Music Group (UMG) announced a strategic partnership between the two companies to collaborate on various music and technology-related endeavors. At the forefront of the partnership was a joint venture between Big Hit and Interscope Geffen A&M's Geffen Records, one of UMG's flagship labels, with plans to debut a global boy group through a new, Los Angeles-based label following a global audition program set to air in 2022. Big Hit would be responsible for selecting and training the artists, while UMG would be in charge of music production, global distribution, and marketing. Additionally, other UMG artists were set to join Weverse, already home to Gracie Abrams, New Hope Club, and Alexander 23. On February 25, Big Hit announced a ₩4 billion (US$3.5 million) investment in a Korea-based AI company, Supertone, that specializes in creating hyper-realistic voices using technology.
2021–present: Hybe, expansions, and investigations
Big Hit announced its rebranding into an entertainment lifestyle platform company under the name Hybe in March 2021. The company underwent a complete organizational restructuring, which also saw the recording and management arm of Big Hit Entertainment spun off into an independent label named BigHit Music under Hybe's new Labels division. The renaming was approved at a shareholders meeting on March 30. The company relocated to its new headquarters in the Yongsan Trade Center in Yongsan District on March 22, and the rebrand went into effect on March 31. Hybe acquired Scooter Braun's Ithaca Holdings and all its properties, including SB Projects and Big Machine Label Group, through its subsidiary Hybe America in April. The corporation invested ₩1.07 trillion (US$935.36 million) into the America branch to finance the buyout; $1.05 billion was paid to Ithaca shareholders and bondholders. BH Odyssey Merger Sub, a newly created subsidiary of Hybe America, facilitated the acquisition, and was later dissolved after the deal's finalization. The Carlyle Group, a minority shareholder and original investor, sold its stake in Ithaca as part of the deal. Braun joined Hybe's board, while Scott Borchetta retained his position as CEO of Big Machine Label Group. That same month, Time named Hybe one of the "100 Most Influential Companies of 2021", under the "Pioneers" section.
Japanese streaming platform Showroom announced a business and capital partnership with Hybe in May 2021 to improve its domestic services and expand access to Japanese content in South Korea, the United States, and globally. Hybe was added to the MSCI Korea index on May 12, and the index updated on May 28. Following a second organizational restructuring, Bang resigned as CEO on July 1 to return his focus to music production. He was replaced by Jiwon Park but retained his position as chairman of the board of directors. In November, Hybe entered into an equity-based partnership with Korean fintech company Dunamu to develop a joint venture NFT business for the creation of digital assets. It acquired a 2.6% stake in the company for ₩500 billion (US$437.08 million), while Dunamu received a 5.6% stake in Hybe for ₩700 billion (US$611.91 million). On November 11, Hybe won a Red Dot Design Award in the Brands & Communication Design category at the 2021 Red Dot Design Awards for its new corporate identity (CI) design. The establishment of a new music label, ADOR, was announced on November 12. Chief brand officer (CBO) Min Hee-jin was appointed as its president and tasked with overseeing the management of the label's first girl group, later announced as NewJeans, which debuted in July 2022.
In January 2022, Hybe published a series of "original stories" featuring boy groups BTS, Enhypen, and Tomorrow X Together in collaboration with Webtoon and Wattpad as part of a planned IP expansion. The BTS comic alone earned over 15 million views within two days of release, becoming the fastest title in Webtoon's history to reach that milestone. In March, Fast Company named Hybe the 11th most innovative company of the year globally on its annual top-50 list—ranking first in the Media category—while Time included Hybe on its 100 Most Influential Companies list for a second consecutive year. The company topped the "Leaders" category and was dubbed "The Pop Powerhouse" by the outlet for its acquisitions, expansion into the digital frontier, and transformative strides in the music industry during the pandemic era. The following month, Hybe won an iF Product Design Award for "Company Branding" in the Communication category at the International Forum Design Awards held in Germany. Hybe signed a multi-year deal with The Walt Disney Company Asia Pacific in July 2022 to provide content showcasing the Korean music and entertainment industries to a global market. Five programs will be available worldwide on Disney+ and other Disney streaming platforms—a 4K cinematic film of BTS' Permission to Dance on Stage concert in Los Angeles; In the Soop: Friendcation; and BTS Monuments: Beyond the Star, a docuseries of BTS' history from debut to present set to premiere in 2023. Additional content featuring other Hybe artists will also be released.
Hybe became the largest shareholder of SM Entertainment in February 2023, after it acquired founder Lee Soo-man's 14.8% stake in the company for approximately ₩422.8 billion (US$369.6 million). The company subsequently acquired Galaxia SM's 1% stake on March 3. On March 12, Hybe announced that they no longer planned to own the majority stakes of SM Entertainment, said that the bidding war with Kakao could "damage shareholder value." On March 24, Hybe announced that it will sell its entire stake in SM Entertainment to Kakao by accepting its tender offer launched by Kakao. However, on March 28, Hybe instead sold half of its stakes in SM to Kakao, leaving it only for 8.81%. On May 27, 2025, Hybe announced it would sell all of its shares in SM Entertainment to Tencent Music.
In May 2023, HYBE entered into a music distribution and strategic cooperation agreement with China's Tencent Music Entertainment. Under the agreement, music by HYBE artists became available on Tencent Music's streaming platforms, including QQ Music, KuGou Music, Kuwo Music and WeSing. The partnership covered music copyright and artist promotion and expanded HYBE's distribution presence in China, a market that had been difficult for South Korean entertainment companies to access following tensions between South Korea and China.
In August 2023, HYBE agreed to acquire CJ ENM's 51.5% stake in Belift Lab for ₩150 billion (US$131.12 million), making Belift Lab a wholly owned subsidiary of HYBE. The transaction was completed on 1 September 2023.
In November 2023, HYBE strengthened its global expansion strategy by acquiring Exile Music, the Latin music label affiliated with Spanish-language entertainment company Exile Content. The deal marked HYBE’s entry into the Latin music market and led to the creation of HYBE Latin America, a Mexico-based division designed to develop artists and content for the region.
In August 2024, ADOR, HYBE's label for NewJeans, replaced its chief executive officer Min Hee-jin with then-CHRO and board member Kim Ju-young]] amid an ongoing dispute between Min and HYBE. Min remained on ADOR's board and was initially announced as continuing to produce music for NewJeans, while ADOR separated its production and management functions. HYBE, which held 80% of ADOR, had previously gained control of the label's board by appointing three directors at a May 2024 shareholders' meeting. Min disputed her removal as a unilateral dismissal and argued that it violated her shareholders' agreement with HYBE.
In December 2024, South Korea's Financial Supervisory Service began investigating HYBE chairman Bang Si-hyuk over shareholder agreements made before the company's 2020 initial public offering. According to reports, the agreements with three private equity funds allowed the funds to sell shares following the IPO while entitling Bang to 30% of their profits. HYBE stated that the agreements had been provided to the IPO underwriters and denied wrongdoing. In May 2025, the Financial Supervisory Service reportedly decided to refer Bang Si-hyuk to prosecutors over allegations that he had misled early HYBE shareholders before the company's 2020 IPO. The allegations concerned statements made in 2019 about the company's plans to go public and Bang's subsequent receipt of a share of profits from private equity investors. HYBE maintained that the transactions were conducted lawfully and with legal oversight. On 29 May 2025, prosecutors investigated a HYBE employee over suspected insider trading and searched the company's headquarters. The investigation concerned allegations that the employee had used non-public information relating to HYBE's business before trading shares.
On May 28, 2025, HYBE America sold Big Machine Rock, a Nashville-based rock label and imprint of Big Machine Label Group, to Gebbia Media, a subsidiary of Siebert Financial. Scott Borchetta, founder of Big Machine Label Group, continued to oversee the label's operations, while general manager Heather Luke-Husong remained in her position. Artists signed to Big Machine Rock remained with the label following the transaction. The sale followed HYBE's acquisition of Big Machine Label Group through its 2021 purchase of Ithaca Holdings for approximately US$1.05 billion. followed the next day by the announcement of the establishment of HYBE China, a Beijing-based subsidiary launched on April 2 as the company's fourth overseas branch after Japan, the United States and Latin America. The subsidiary was established to support HYBE artists' activities and expansion in China. HYBE stated that it did not initially plan to launch a China-based idol group or audition programme, instead focusing on its existing artists.
On July 1, Hybe announced plans to expand its operations into India, with the subsidiary establish on September 23. In the same month, one of Hybe's largest shareholders, Netmarble considered issuing approximately ₩2.5 trillion (US$2.19 billion) in exchangeable bonds (EB), using part of its stake in Hybe as collateral to secure liquidity for repaying loans incurred during its acquisition of the U.S. social casino game company SpinX. While a formal underwriting agreement had not yet been signed, NH Investment & Securities emerged as the likely arranger, and NH Hedge Asset Management was reportedly forming a project fund with institutional investors to support the deal. Netmarble has previously utilized its Hybe holdings for financing, including a 2024 price return swap involving 2.6% equity and a 2023 block trade of approximately 6% of its shares. However, by August, Netmarble abandoned its plan, a decision attributed to the volatility and sharp decline in Hybe's stock price caused by an "owner risk" scandal involving Hybe's founder and Chairman Bang Si‑hyuk. The funding was intended to pay down debt from Netmarble's acquisition of SpinX (₩1.6 trillion (US$1.4 billion) in debt), which is now reduced to mid‑₩200 billion (US$174.83 million).
On August 20, Mirae Asset Securities was preparing to sell the remaining portion of Hybe convertible bonds (CBs) worth approximately 1 trillion KRW, capitalizing on the recent surge in Hybe's stock price, which had risen to around 280,000 KRW—well above the CB conversion price of 218,000 KRW. The CBs, issued in October 2024 as zero-coupon, zero-interest bonds, were initially underwritten mainly by Mirae Asset, but some remained unsold due to concerns over the deal's structure and perceived favoritism. With Hybe's stock boosted by positive market sentiment, including anticipation of BTS's return and the easing of Chinese content restrictions, Mirae Asset sees a lucrative opportunity to offload the remaining CBs at a premium, maximizing returns through both underwriting fees and capital gains. The same day, Hybe subsidiary ADOR appointed Lee Do-kyung as its new president. This leadership change follows the dismissal of former president Min Hee-jin in 2024 and a period of interim leadership under Kim Joo-young, who focused on stabilizing the company and restructuring operations. With that process complete, Hybe determined that Lee—who has been at Hybe since 2019 and has experience in strategic planning and IP projects—was the right person to lead ADOR into its next phase.
In December 2025, HYBE announced a global management partnership with Brandon Hixon and Colin Gayle, the managers of South African singer Tyla, to develop African artists for international markets. Under the partnership, Hixon and Gayle would lead the artist-development initiative, while HYBE would provide support in areas including touring, marketing, digital strategy, multimedia production and brand partnerships. Tyla became the first artist supported under the initiative while remaining managed by Hixon and Gayle.
In May 2026, Hybe unveiled a new corporate identity and updated mission statement, introducing "Discover a New Universe, Unlock an Immersive Journey" as its official mission, while retaining its previous music-focused principle, "We believe in Music", for internal use. The new branding emphasizes immersive fan experiences across content and services, reflecting a shift toward leveraging technology in its entertainment offerings. The company also adjusted its logo usage, allowing the wordmark and its derived "H" symbol to be used independently. On May 15, Hybe announced that former CHRO, Kim Joo-young, left the company after a recent filing revealed her shares, along with former CEO of Hybe America, Scooter Braun, and former CEO of Hybe Latin America, Kah Jong-hyun, dropped to zero, with Braun's own departure later revealed on July 1.
In June, HYBE announced a strategic partnership with Japanese music production company INCS together to launch Girls Archives, a five-member Japanese-Korean girl group combining real-world performers with virtual characters and a transmedia storyline. HYBE's Next Entertainment Business (NEB) division provided support for the group's concept and story development, while INCS toenter served as the project's lead production company.
On July 23, HYBE disclosed that its subsidiary Supertone had been approved for dissolution following a resolution adopted at an extraordinary shareholders' meeting on July 15. Although the corporate entity is being dissolved, HYBE announced that parts of Supertone's business would continue under a new operating company. Its AI voice services Shift, Clear, and Air were to be transferred to a new company and continue without interruption, with existing licences and purchased voices remaining valid. Meanwhile, Play, the Supertone API, and Voice Builder were discontinued.
From Wikipedia’s article on Hybe, shared under CC BY-SA 4.0.4